Promissory Note, Payable on Demand, No Interest, Principal Payable on Maturity
DEMAND PROMISSORY NOTE –
[Loan Amount] Due: ON DEMAND
FOR VALUE RECEIVED, the undersigned, [name of the borrower], the ‘Borrower’, acknowledges itself obliged to [Lender name], the ‘Lender’ and pledges to pay ‘ON DEMAND’ to the Lender or, as otherwise directed by the lender in writing, the principal amount of $[loan amount] in legal money of [Currency of the USA] without any interest.
The Lender may allocate all of its right, title and interest in, to and as part of this promissory note. All the payments to be made hereunder shall be made by the Borrower without any right of set-off or accusation.
Dated: [document date]
………………………………………….. ………………………………………….
Witness Seller Name